Peapack-Gladstone Financial Co. (NASDAQ:PGC) EVP John P. Babcock Sells 10,000 Shares

Peapack-Gladstone Financial Co. (NASDAQ:PGC - Get Free Report) EVP John P. Babcock sold 10,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $28.76, for a total transaction of $287,600.00. Following the transaction, the executive vice president now directly owns 39,155 shares in the company, valued at approximately $1,126,097.80. The trade was a 20.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Peapack-Gladstone Financial Stock Up 1.6 %

PGC traded up $0.46 during trading on Monday, reaching $29.12. The stock had a trading volume of 22,903 shares, compared to its average volume of 94,889. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $512.40 million, a price-to-earnings ratio of 15.74 and a beta of 1.00. The stock's 50 day moving average is $31.84 and its two-hundred day moving average is $31.81. Peapack-Gladstone Financial Co. has a one year low of $20.30 and a one year high of $37.88.

Peapack-Gladstone Financial (NASDAQ:PGC - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. Peapack-Gladstone Financial had a net margin of 8.11% and a return on equity of 5.57%. As a group, analysts expect that Peapack-Gladstone Financial Co. will post 2.71 earnings per share for the current year.

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Hedge Funds Weigh In On Peapack-Gladstone Financial

Several large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC bought a new position in Peapack-Gladstone Financial during the 4th quarter valued at approximately $32,000. Albion Financial Group UT bought a new position in shares of Peapack-Gladstone Financial during the fourth quarter valued at $35,000. Point72 Asset Management L.P. raised its position in shares of Peapack-Gladstone Financial by 157.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,400 shares of the financial services provider's stock worth $66,000 after purchasing an additional 1,468 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Peapack-Gladstone Financial in the 4th quarter worth about $112,000. Finally, Quantbot Technologies LP boosted its stake in Peapack-Gladstone Financial by 507.2% in the 4th quarter. Quantbot Technologies LP now owns 5,902 shares of the financial services provider's stock worth $189,000 after purchasing an additional 4,930 shares in the last quarter. 72.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price objective on Peapack-Gladstone Financial from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th.

About Peapack-Gladstone Financial

Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack-Gladstone Bank that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Peapack Private. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts.